Workers at HSBC Holdings PLC’s Chinese securities subsidiary have formed a unit that represents the Communist Party, in the latest instance of the party establishing a presence inside a foreign company.
As few as three workers have formed a party branch at HSBC Qianhai Securities, a Shenzhen-based investment bank owned by HSBC, people familiar with the matter said. London-based HSBC owns 90% of the company after increasing its stake this spring.
